Otteri Wash & Dry, a Thai retailer of laundry and dryer machines and a franchiser of laundry self-services under K-Nex Corporation, plans to open eight more branches in Cambodia this year, and wants to expand to another Asian country in 2025.
Kavin Nitasnajarukul, chief executive of K-Nex Corporation, said the company anticipates a surge in the number of customers in the second half of the year as it enters the rainy season.
However, consumer behaviour has changed amid Thailand's sluggish economic growth.
For example, customers now tend to put more clothes in the washing machine without separating white and coloured clothing.
The company expects this practice to lessen following the economic recovery, Mr Kavin added.
He said the company increased its service price by 10 baht earlier this year.
"Even if the electricity price goes up, the company will maintain its current service price throughout this year," Mr Kavin said.
However, if the overall main costs, which consist of electricity, water and gas, go up by more than 10%, the company will reconsider increasing its service price, he added.
"I would like to ask the government to consider easing the cost of living by reducing infrastructure costs," Mr Kavin said.
On July 23, the cabinet approved the measures proposed by the Energy Ministry to manage energy prices, maintaining the electricity rate at 4.18 baht per kilowatt-hour (unit) for September to December 2024.
Mr Kavin said the company plans to open 200 more stores by the end of this year, bringing the total to 1,300 stores.
"Around 60% of the new stores will be located in the Bangkok Metropolitan Region, while the remaining 40% will be located in the South and the Northeast," Mr Kavin said.
Moreover, the company plans to expand the laundry business to eight more branches in Cambodia's capital city, Phnom Penh, from the existing two branches.
Mr Kavin said the company is also planning to expand to other countries in Asia, aiming to open a new store by the first quarter of 2025.
"There are potential opportunities in other Asian markets as the company focuses on the lifestyle business, catering to various needs of consumers which contribute to brand value," Mr Kavin said.
He did not specify which country the company plans to enter, but it is considering Vietnam, Indonesia and the Philippines.
Mr Kavin said the company's revenue reached around 900 million baht last year, accounting for 30% of market share in terms of stores.
The company wants sales revenue to reach 1 billion baht this year, Mr Kavin said.
